In this paper, we provide a theoretical analysis for a preconditioned steepest descent
(PSD) iterative solver that improves the computational time of a finite difference numerical scheme
for the Cahn-Hilliard equation with Flory-Huggins energy potential. In the numerical design, a
convex splitting approach is applied to the chemical potential such that the logarithmic and the
surface diffusion terms are treated implicitly while the expansive concave term is treated with
an explicit update. The nonlinear and singular nature of the logarithmic energy potential makes
the numerical implementation very challenging. However, the positivity-preserving property for
the logarithmic arguments, unconditional energy stability, and optimal rate error estimates have
been established in a recent work and it has been shown that successful solvers ensure a similar
positivity-preserving property at each iteration stage. Therefore, in this work, we will show
that the PSD solver ensures a positivity-preserving property at each iteration stage. The PSD
solver consists of first computing a search direction (which requires solving a constant-coefficient
Poisson-like equation) and then takes a one-parameter optimization step over the search direction
in which the Newton iteration becomes very powerful. A theoretical analysis is applied to the PSD
iteration solver and a geometric convergence rate is proved for the iteration. In particular, the
strict separation property of the numerical solution, which indicates a uniform distance between
the numerical solution and the singular limit values of $±1$ for the phase variable, plays an essential
role in the iteration convergence analysis. A few numerical results are presented to demonstrate
the robustness and efficiency of the PSD solver.